Louisiana is the Best Place to Mine the Bitcoin, Study says

Nishanth Shetty

Nishanth Shetty

December 23, 2017 1:47 pm

Louisiana is the Best Place to Mine the Bitcoin, Study says | Coindelite News
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Bitcoin News

Electrical supply company Crescent Electric’s (CESCO) research reveals that the state of Louisiana is the cheapest state in the US for mining Bitcoin.

Digital currency mining will need a lot of electric power and the power rates differ in every state.

Due to the CESCO’s  latest research on the cost of cryptocurrency mining across the US, Louisiana is currently the less costing state for mining the Bitcoin. The electricity would cost 9.87 cents per watt puts the average cost of mining one Bitcoin would cost $3,224.

As of now, Bitcoin is trading at $14,000.

Where else in the US is it cheap to mine?

In their research, CESCO also estimated the cost of Bitcoin mining based on the wattage consumption of the three most popular mining rigs, namely, the AntMiner S9, the AntMiner S7, and the Avalon 6. These figures were then multiplied by the average electricity rate in each state

Apart from Louisiana, the other top five states with the lowest price for mining the Bitcoin are Idaho ($3,289 per token), Washington ($3,309), Tennessee ($3,443) and Arkansas ($3,505).

Rounding up the top five states with the highest Bitcoin mining rates are Alaska ($7,059), Connecticut ($6,951), Massachusetts ($6,674) and New Hampshire ($6,425).

The study also names the most expensive states for the digital currency mining. The list of the costliest states is managed by Hawaii, which costs average mining cost of $9,483 per coin.

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